Generali Powszechne Towarzystwo Emerytalne Buys New Stake in Freeport-McMoRan Inc. $FCX

Key Points

• Generali Powszechne Towarzystwo Emerytalne opened a new position in Freeport-McMoRan during the first quarter, buying 892,200 shares worth about $52.4 million. The stake is now its largest holding, making up about 9.3% of the portfolio.
• Freeport-McMoRan reported strong quarterly results, with earnings of $0.57 per share and revenue of $6.23 billion, both ahead of analyst expectations. Revenue also rose 8.8% year over year.
• Analyst sentiment remains upbeat, with several firms raising price targets and the stock carrying a consensus Moderate Buy rating. The company also announced a quarterly dividend, reinforcing shareholder returns.

Generali Powszechne Towarzystwo Emerytalne bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 892,200 shares of the natural resource company's stock, valued at approximately $52,444,000. Freeport-McMoRan makes up about 9.3% of Generali Powszechne Towarzystwo Emerytalne's portfolio, making the stock its largest holding. Generali Powszechne Towarzystwo Emerytalne owned approximately 0.06% of Freeport-McMoRan as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steph & Co. boosted its holdings in Freeport-McMoRan by 43.7% in the first quarter. Steph & Co. now owns 493 shares of the natural resource company's stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Essex Bank increased its holdings in shares of Freeport-McMoRan by 1.2% during the first quarter. Essex Bank now owns 14,104 shares of the natural resource company's stock valued at $829,000 after acquiring an additional 163 shares in the last quarter. Leo Wealth LLC raised its position in shares of Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company's stock valued at $347,000 after purchasing an additional 170 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in shares of Freeport-McMoRan by 23.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company's stock valued at $47,000 after purchasing an additional 176 shares during the last quarter. Finally, Castle Rock Wealth Management LLC boosted its stake in Freeport-McMoRan by 3.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company's stock worth $289,000 after purchasing an additional 180 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 1.5%

FCX stock opened at $62.79 on Friday. The firm's fifty day simple moving average is $64.73 and its 200-day simple moving average is $60.70. The company has a market capitalization of $90.26 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 15.96%.

Wall Street Analysts Forecast Growth

FCX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Jefferies Financial Group lifted their price objective on shares of Freeport-McMoRan from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Weiss Ratings raised shares of Freeport-McMoRan from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, May 22nd. Sanford C. Bernstein upped their target price on Freeport-McMoRan from $53.50 to $58.50 and gave the company a "market perform" rating in a research report on Wednesday, June 10th. Finally, BNP Paribas Exane raised their target price on Freeport-McMoRan from $71.00 to $82.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.27.

More Freeport-McMoRan News

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Freeport-McMoRan to $78 from $68 and kept an outperform rating, signaling more upside potential for the stock. BMO Capital adjusts price target on Freeport-McMoRan
• Positive Sentiment: Freeport-McMoRan declared a quarterly cash dividend of $0.15 per share, which includes both a base dividend and a variable dividend, reinforcing shareholder returns and reflecting confidence in cash generation. Freeport declares quarterly cash dividends
• Positive Sentiment: FCX has been showing relative strength versus the broader market, with recent trading action indicating the stock has been rising while the market has dipped. FCX gains as market dips
• Neutral Sentiment: Freeport-McMoRan is also being highlighted as one of the most watched stocks on Zacks, suggesting elevated investor interest, but not necessarily a direct fundamental catalyst. FCX is attracting investor attention
• Neutral Sentiment: Some market commentary says FCX underperformed competitors on Tuesday, which may point to normal trading rotation rather than a major negative company event. Freeport-McMoRan stock underperforms Tuesday when compared to competitors

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

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